In mid-December, Nike announced the acquisition of RTFKT, a leading brand that uses digital innovation to deliver online collections that blend culture and games. This is Nike’s latest attempt to expand its push into the blockchain, metaverse, and crypto space.
“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture,”John Donahoe, President and CEO of Nike said in his statement.
“We’re acquiring a very talented team of creators with an authentic, connected brand, and extends Nike’s digital footprint and capabilities.” Founded in 2020, by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT uses the latest game engine, NFT, blockchain validation, and augmented reality to create unique virtual products and experiences . RTFKT also creates physical productions of digital NFTs in limited “forging events” for its community members.
Nike seems to be following a “follow it fast” strategy as other fashion brands are scrambling to make their digital statements before mass adoption of the metaverse. For example, Dolce & Gabbana, Jimmy Choo and Adidas AG have launched NFT. In fact, the launch of Adidas’ NFT “Into the Metaverse” collection this month was an instant hit bringing in $23 million in sales. When it comes to doubling those types of NFT profits, Nike wants “Just Do It.”
Last month, Nike announced its first big push into the metaverse with the creation of “Nikeland” on Roblox – an online game and game production platform that allows anyone to create games new and anyone who plays them.
Nikeland currently allows visitors to participate in games such as card games, lava floors, and ball throwing with friends. However, the Nikeland toolkit allows creators to easily design their own mini-games from interactive sports materials.
Additionally, it’s a free virtual install that allows users to sync real-world accelerometers in their mobile devices to translate offline movement into online play as well as Nikeland avatar outfits. with Nike specials. Nike is running fast so as not to lose the race against the metaverse.
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